October 22/12 10:34 am - Oakley Drops Armstrong

Posted by Editor on 10/22/12

Lance Armstrong's last remaining major sponsor, eyewear manufacturer Oakley, has announced that they are severing ties with the disgraced athlete, after the UCI stated that they are accepting the evidence and sanctions imposed by the United States Anti-doping Agency (USADA). The Bloomberg financial news service has estimated that Armstrong has lost $30 million in income and revenue from the loss of sponsors such as Nike, Trek, Anheuser-Busch, Giro and now Oakley. As is the case with other former sponsors, Oakley will continue to support the Livestrong Foundation.

The Oakley statement:

Based on UCI’s decision today and the overwhelming evidence that USADA presented, Oakley has severed its longstanding relationship with Lance Armstrong, effective immediately.

When Lance joined our family many years ago, he was a symbol of possibility. We are deeply saddened by the outcome, but look forward with hope to athletes and teams of the future who will rekindle that inspiration by racing clean, fair and honest.

We believe the LIVESTRONG Foundation has been a positive force in the lives of many affected by cancer and, at this time, Oakley will continue to support its noble goals.